I&M bank has opened it's latest branch in Watamu, Kilifi as it intensifies its expansion drive in a bid to bring its products and services close to customers.

The opening of the new branch situated at the newly built Watamu Mall pushes the bank branches to 53.

The new branch targets the tourism activities and hotels in the area.

"As you are aware there are a lot of tourism activities here and that is our main target" said  I&M bank Coast Regional Manager James Ng'anga.

Adding" For us at I&M we don't offer just normal banking, we offer solutions".

On his part the bank Chief Executive Officer (C.E.O) Gul Khan said the opening of the bank is timely promising the residents and clients of personalised customer-first services.

"We are a bit late but better late than never. We are trying to grow by being different. We are doing what other banks are not doing, we are the only bank not charging for bank to mpesa transactions. We have the largest personal loan of 10 million most banks have 6 to 7 million, try us out" said Khan.

Adding "Watamu is really growing we are seeing that from our customers and that's means we need to grow here and offer more services to our customers"

Speaking at the launch, Watamu residents association Chairman Shariff Athman challenged other banks to also open branches in the area to increase competition.

"We need to see more banks opening branches here, this will create a healthy competition which is highly encouraged. We want to see Watamu grow when it comes to business" said Athman.

Early this month the bank opened its 52 branch in branch.

Now in its 50th year, I&M Bank  intends to grow its countrywide network guided by its iMara strategy that has prioritised expanding its retail services through initiatives such as new innovative retail products and expanding its credit facilities.

Among the services under the iMara strategy also includes introducing retail products, expanding its credit facilities, and eliminating Bank-to-MPESA transaction costs among others.

Last month, the lender announced that it was planning to open more branches this year spread across all the 47 counties.